China News Direct

(Jan 08, 2015) CHENGDU, Sichuan - Shandong-based Yantai Jereh Oilfield Services Group Co. Ltd. started commercial production of shale-derived LNG in Sichuan province this January, the first in China. From sketches of design to building the first shale LNG station in Yibin, Sichuan, Yantai Jereh Oilfield has been working closely with its strategic partner Sichuan ...

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Beijing's pollution woe blown away

(Jan 14, 2015) BEIJING - China's energy bureau is looking to the sea when it plans to bring offshore wind power to heavily populated cities such as the capital areas, extending the source of clean energy from land to sea. National Energy Administration (NEA) announced a national offshore or sea wind power development plan 2014-2016. Offshore wind power will be made an alternative ...

(Jan 06, 2015) XIAN, Shaanxi - Shaanxi Yanchang Petroleum Group announced the success of a three-in-one multi-sourced coal, oil and gas petrochemical refining project called the world's first, making a break-through in fuel oil business. In the summer heat in Shaanxi's Jingbian County, engineers at ...

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Time to stand up for Chinese companies

(Jan 14, 2015) KUNMING, Yunnan - Chinese companies will have a choice in sourcing ultra-thin aluminum foil used in the manufacturing of high-end devices after Yunnan Haoxin Aluminum Foil Co. Ltd. produced its first ultra-thin aluminum foil last August, cutting reliance on overseas supplies. Haoxin Aluminum Foil, based in Yunnan province, is a sino-US joint venture of Alcoa. ...

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State puts more minerals under scrutiny

(Jan 19, 2015) BEIJING - The Ministry of Land & Resources (MLR) announced new thresholds on eight more kinds of mineral including manganese and tungsten, requiring existing mines to implement these standards within two years. Mining companies are required to adopt and keep the re-exploration, recycling and composite usage of minerals above the minimum standards set by the ...

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Shanghai launches first copper swaps in RMB

(Feb 07, 2015) SHANGHAI - China (Shanghai) Free Trade Zone has introduced the world's first swap premium contract on copper, a commodity derivative settled in Renminbi (RMB) for local and international investors. Shanghai Clearing House will be handling the new product which will be priced on the Yangshan Copper Premium Index, centrally clearing and cash settling ...

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China unveils monetary strategy that catches two birds

(Feb 06, 2015) BEIJING - Economists say China has done something not seen before in gearing the economy when taking 50 basis points off all banks' required reserve ratio, it allows some banks additional cuts, effectively increasing money supplies and pushing the costs of lending down. China has made a timely move to lower the required reserve ...

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Scrapped material trade rolls up

(Feb 12, 2015) CHONGQING - The business of trading and re-using scrapped materials has begun to mean something to China when Chongqing did RMB500 billion of such business in less than a year, encouraging similar trades to sprout. Renewable Resources Trade Center (RRTC) based in Chongqing has quickly transpired into an online trading and melting pot of scrapped steels, scrapped nonferrous ...

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New norm drives changes in base industries

(Feb 11, 2015) BEIJING - The Ministry of Finance will levy a new tax on the imports of coating materials and batteries, beginning a new round of measures to let surplus capacities out of the market as fast as possible. Effective 1 February 2015, the Chinese government will charge a consumption tax on the imports of coating materials and batteries, excluding lead batteries. ...

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Trading discharge rights back to basics

(Feb 26, 2015) SHANGHAI - Shanghai Pudong Development Bank (SPD Bank) will lend to companies pledging emission discharge rights as collateral, the first of its kind in China in activating trading of rights in the secondary market. SPD Bank, nodded by People's Bank of China (Guangdong), Guangdong Development and Reform Commission and several other departments, provided the ...